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Old 29th Jan 2006, 10:44
  #277 (permalink)  
Blueprint
 
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Blueprint

I have read this thread with interest.
Having been involved with the BA pension some years ago, there is a lot of uncertainty being aired. The fact is BA can, with 6 months notice close, both NAPS & APS. However they are contractually bound to honour existing committments earned to that point. This is their problem. At that point they have a fixed liability (approx £2B in NAPS) which has to be set aside. At the moment they are allowed to pay it off in annual installments (Approx £225pa).
This is their problem. They are between a rock & a hard place.
The Balpa team have a strong hand, I suggest you back them to the hilt, although the future accural rates looks uncertain, what is banked is safe.
After all those very close to retirement could do just that & retire with a deferred pension (& go to SIA etc, for a short period). I really do not think BA could cope with a large number of early retirements.
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